I did not believe that the elections had a effect on the price of gas, however,?

Question

Gas here, in TN, has rose .21 in the past 10 days. 1) has there been something OTHER than the election to effect prices that I have not heard about? and 2) If not, how can it be justified this time for a price raise?

Answer 1

Yes there has. Due to the falling price of wholesale crude on the international commodities market, OPEC announced an intent to cut back production of crude. Further, as we head into winter months, heating oils and diesel fuel (for shipping of goods) has a spike in consumption.

What this means is the volatility of the crude, fuel, gasoline, and heating oil markets are directly effected by the speculators on the market itself. What you are seeing is a market response to speculator manipulation of the price. It has nothing to do with the elections, just brokers and individual investors trying to make a quick buck.

The best response to this would be a massive investment in the ability of the US market to refine a greater quantity of our imported crude, and to explore even greater quantities of crude from domestic sources.

Answer 2

I know what you mean bro, I live in Portsmouth, Va. which is about 15 miles from Norfolk and 10 days ago the average price was 1.95 per gallon - now it's 2.05 per gallon?

Answer 3

OMG! You mean gas prices fluctuate. It must be a Republican plot. Down with the NeoCons!

Answer 4

Like we learned in the 6th grade---it's all supply & demand.
Some states are pay 55 cents a gallon on gas.

SUPPLY-----DEMAND----GOVT INTERFERENCE WITH TAXES.
(And Democrats won't let us drill for oil.)

Answer 5

we have a lame duck republican congress,
they have raised prices while they can without incurring penalty

Answer 6

SOMEDAY WE WON'T NEED GAS .
THEN WHAT WILL THEY DO